Florida Financial Advisors LLC Invests $375,000 in AST SpaceMobile, Inc. (NASDAQ:ASTS)

Florida Financial Advisors LLC bought a new position in AST SpaceMobile, Inc. (NASDAQ:ASTS - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm bought 16,487 shares of the company's stock, valued at approximately $375,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of AST SpaceMobile by 49.4% in the 4th quarter. Vanguard Group Inc. now owns 14,987,351 shares of the company's stock worth $316,233,000 after acquiring an additional 4,955,941 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of AST SpaceMobile by 7.0% in the 4th quarter. Geode Capital Management LLC now owns 3,496,825 shares of the company's stock worth $73,801,000 after acquiring an additional 229,759 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in shares of AST SpaceMobile during the 4th quarter worth $59,523,000. Charles Schwab Investment Management Inc. grew its holdings in shares of AST SpaceMobile by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,266,713 shares of the company's stock worth $26,728,000 after purchasing an additional 135,008 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of AST SpaceMobile by 8.8% during the 4th quarter. Northern Trust Corp now owns 1,233,056 shares of the company's stock worth $26,017,000 after purchasing an additional 100,153 shares during the period. 60.95% of the stock is owned by institutional investors and hedge funds.

AST SpaceMobile Trading Down 0.9%

AST SpaceMobile stock traded down $0.51 during midday trading on Friday, reaching $56.94. 5,932,389 shares of the stock traded hands, compared to its average volume of 12,868,711. The company has a 50-day simple moving average of $37.10 and a two-hundred day simple moving average of $28.95. AST SpaceMobile, Inc. has a 12-month low of $12.24 and a 12-month high of $58.03. The firm has a market cap of $18.02 billion, a PE ratio of -28.68 and a beta of 2.27. The company has a current ratio of 10.62, a quick ratio of 10.62 and a debt-to-equity ratio of 0.60.

AST SpaceMobile (NASDAQ:ASTS - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported ($0.20) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.03). The firm had revenue of $0.72 million for the quarter, compared to analysts' expectations of $3.85 million. AST SpaceMobile had a negative net margin of 7,033.22% and a negative return on equity of 23.56%. Research analysts expect that AST SpaceMobile, Inc. will post -0.4 earnings per share for the current fiscal year.

Insider Activity

In other news, COO Shanti B. Gupta sold 15,000 shares of AST SpaceMobile stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $36.08, for a total value of $541,200.00. Following the completion of the transaction, the chief operating officer owned 315,667 shares in the company, valued at approximately $11,389,265.36. This trade represents a 4.54% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Scott Wisniewski sold 50,000 shares of AST SpaceMobile stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $35.65, for a total value of $1,782,500.00. Following the completion of the transaction, the president owned 545,595 shares of the company's stock, valued at $19,450,461.75. The trade was a 8.39% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 184,250 shares of company stock worth $6,146,750. 34.15% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ASTS shares. B. Riley reiterated a "buy" rating and set a $44.00 price target (up from $36.00) on shares of AST SpaceMobile in a report on Monday, June 16th. Roth Capital started coverage on AST SpaceMobile in a report on Thursday, April 10th. They set a "buy" rating and a $42.00 price target for the company. Oppenheimer started coverage on AST SpaceMobile in a report on Monday, May 5th. They set a "market perform" rating for the company. Bank of America started coverage on AST SpaceMobile in a report on Wednesday, June 25th. They set a "neutral" rating and a $55.00 price target for the company. Finally, Scotiabank reiterated a "sector perform" rating and set a $45.40 price target on shares of AST SpaceMobile in a report on Monday, June 23rd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $45.34.

About AST SpaceMobile

AST SpaceMobile, Inc, together with its subsidiaries, develops and provides access to a space-based cellular broadband network for smartphones in the United States. Its SpaceMobile service provides cellular broadband services to end-users who are out of terrestrial cellular coverage. The company was founded in 2017 and is headquartered in Midland, Texas.